TuSimple’s $1.35 Billion Initial Public Offering

Gunderson Dettmer Stough Villeneuve Franklin & Hachigian, LLP advised TuSimple on the deal, while Davis Polk advised the representatives of the several underwriters.

TuSimple, a San Diego-based global self-driving technology company, announced its initial public offering which raised $1.35 billion with almost 34 million shares at a price to the public of $40.00 per share. TuSimple’s shares are trading on The Nasdaq Global Select Market under the symbol “TSP.” The offering is being led by underwriters Morgan Stanley, Citigroup and JPMorgan.

TuSimple is a global autonomous technology company revolutionizing the estimated $4 trillion global freight market. TuSimple has developed industry-leading autonomous technology specifically designed for semi-trucks, which has enabled the company to build the world’s first Autonomous Freight Network in partnership with world-class shippers, carriers, fleet owners and truck hardware partners. TuSimple is headquartered in San Diego, California.

The Gunderson deal team included corporate partner Zhen Liu (Picture), IPO/public companies chair Jeff Vetter, IPO partner Colin Conklin, of counsel Richard Chang, executive compensation partners Sharon Hendricks and Michael Richman, tax partner Mark Foster and associates Lily Kim, Laurel Fedder, Shu Hu, Tina Xu, Jessica Annis, Frank Strumolo, Huihui Cai, Angela Lyons-Justus and Alexis Persson.

Davis Polk advised the representatives of the several underwriters with partners Richard D. Truesdell Jr. and Roshni Banker Cariello and associates Stephen A. Byeff, Ariel Rivera and Shaoting Qin. The intellectual property and technology transactions team included partner Frank J. Azzopardi. The tax team included counsel Alon Gurfinkel. The environmental team included counsel Loyti Cheng and associate Michael Comstock. Counsel Marcie A. Goldstein provided FINRA advice. Members of the Davis Polk team are based in the New York and London offices.

Involved fees earner: Frank Azzopardi – Davis Polk & Wardwell; Roshni Banker Cariello – Davis Polk & Wardwell; Stephen Byeff – Davis Polk & Wardwell; Loyti Cheng – Davis Polk & Wardwell; Michael Comstock – Davis Polk & Wardwell; Marcie Goldstein – Davis Polk & Wardwell; Alon Gurfinkel – Davis Polk & Wardwell; Shaoting Qin – Davis Polk & Wardwell; Ariel Rivera – Davis Polk & Wardwell; Richard Truesdell Jr. – Davis Polk & Wardwell; Jessica Annis – Gunderson Dettmer; Huihui Cai – Gunderson Dettmer; Richard Chang – Gunderson Dettmer; Colin Conklin – Gunderson Dettmer; Laurel Fedder – Gunderson Dettmer; Mark Foster – Gunderson Dettmer; Sharon Hendricks – Gunderson Dettmer; Shu Hu – Gunderson Dettmer; Lily Kim – Gunderson Dettmer; Zhen Liu – Gunderson Dettmer; Angela Lyons-Justus – Gunderson Dettmer; Alexis Persson – Gunderson Dettmer; Michael Richman – Gunderson Dettmer; Frank Strumolo – Gunderson Dettmer; Jeffrey Vetter – Gunderson Dettmer; Tina Xu – Gunderson Dettmer;

Law Firms: Davis Polk & Wardwell; Gunderson Dettmer;

Clients: Citigroup Inc.; JP Morgan; Morgan Stanley; TuSimple Inc.;

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Sonia Carcano

Author: Sonia Carcano